Online payday loans are much better than using a "brick and mortar" lender in that your application can be completed in as little as three minutes, while your approval may take about an hour. Once your loan has been approved, you will have the loan amount directly deposited into your checking account.

Repayment of the loan is accomplished in the same manner, on the date that you and the lender agree upon. Your cash advance will need to be repaid in the timeframe setup by the lender. Usually, this is a two-week period, most often falling on your payday.

However, most lenders are willing to set up payment terms in which you pay a specific amount per week, rather than repaying the loan in a single lump sum. Some lenders even offer extensions of up to 100 days! Of course, the lender will assess a small fee on top of the loan amount, although this is usually not a hefty sum.

Earlier this year I faced some financial trouble and needed some cash. I used one of those loan finding services and was very impressed and pleased with the results. The customer service at this institution was outstanding and they were quick to respond to a couple of questions I had. The application was a piece of cake and I got approved and had my money within about two hours.

This way of getting a loan is so much better because you only have to fill out one application and they search a large database of lenders to find the rights ones for you based on the information you gave them.

Why is it better to fill out only one application rather than go to each individual lender? Other than the hassle I have one word for you - Credit! Applying to a bunch of different places brings your probably already low credit score down even farther. This will make it harder for you in the long run to get any good credit.

One piece of advice I can offer you is to use a junk email address. Don't use your regular personal or business email. Not that you will get a lot of spam, but you will get a lot of offers through your email. You can easily set up a quick throw-away email address at Gmail.com

Which if you really think about it, isn't that a great thing to be able to pick and choose your loan amount, payment terms and interest rates yourself instead of one lender saying "this is how much you can borrow and these are your terms?"

Payday loans are available to customers at the click of a mouse. Whether there is an emergency situation or you just need some extra cash now and cannot wait until your next payday, an online payday loan is the perfect solution for you.

If it's your first time or your fifth time it doesn't matter; next time try the service that works with you and finds the best loans for you. I think you'll be surprised at how pleased you will be with the results.